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Willis Towers Watson P.L.C. said on Wednesday that it has launched a new version of Mercury, its credit risk placement platform.
Mercury gives users the ability to bind credit insurance policies themselves through an online portal. It offers banks and corporations access to their chosen credit insurers, Willis Towers Watson said in a statement.
In addition, Mercury provides management information including quantifying in real-time a business’s exposure to certain geographies or counter-parties wherever they are in the world, according to the statement.
“Trade finance is a sector whose lifeblood is efficiency of execution. Mercury is an interface that removes the transacting administration commonly associated with insurance in a manner that will be familiar to the front line trade finance staff within banks and corporates,” Paul Davidson, head of Willis Towers Watson’s political and trade credit risk practice, Financial Solutions, said in the statement.
For many years, employer sponsorship of defined benefit pension plans has been declining. The past ten years in particular has seen a rapid fall in the number of traditional plans being offered to new salaried employees. In a recent interview with Editor-at-Large Jerry Geisel, Kevin Wagner, a senior consulting actuary with Willis Towers Watson P.L.C. in Southfield, Michigan, discussed the decline of defined benefit plans, the broad implications of that decrease and whether the plans will stage a comeback.